Mercer Global Advisors Inc. ADV Has $721,000 Position in Newell Brands Inc. (NASDAQ:NWL)

Posted by Defense World Staff on May 21st, 2023

Mercer Global Advisors Inc. ADV grew its holdings in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,140 shares of the company’s stock after acquiring an additional 2,011 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Newell Brands were worth $721,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NWL. Fairfield Bush & CO. acquired a new stake in Newell Brands during the 1st quarter worth about $26,000. Ellevest Inc. grew its stake in shares of Newell Brands by 40.4% in the 3rd quarter. Ellevest Inc. now owns 4,836 shares of the company’s stock valued at $67,000 after buying an additional 1,392 shares during the period. RFP Financial Group LLC acquired a new stake in shares of Newell Brands in the 4th quarter valued at about $73,000. Canada Pension Plan Investment Board grew its stake in shares of Newell Brands by 711.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,107 shares of the company’s stock valued at $88,000 after buying an additional 3,601 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Newell Brands by 42.9% in the 4th quarter. Parallel Advisors LLC now owns 7,231 shares of the company’s stock valued at $95,000 after buying an additional 2,171 shares during the period. 92.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newell Brands

In related news, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average price of $9.99 per share, for a total transaction of $95,054.85. Following the purchase, the chief financial officer now directly owns 153,140 shares in the company, valued at approximately $1,529,868.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Newell Brands news, CFO Mark J. Erceg acquired 28,282 shares of Newell Brands stock in a transaction that occurred on Thursday, March 9th. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $367,666.00. Following the purchase, the chief financial officer now owns 94,982 shares of the company’s stock, valued at $1,234,766. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark J. Erceg acquired 9,515 shares of Newell Brands stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average price of $9.99 per share, with a total value of $95,054.85. Following the completion of the purchase, the chief financial officer now directly owns 153,140 shares in the company, valued at approximately $1,529,868.60. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on Newell Brands from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 24th. Barclays reduced their target price on Newell Brands from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, February 14th. Morgan Stanley reduced their target price on Newell Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, February 13th. StockNews.com started coverage on shares of Newell Brands in a research report on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, Citigroup started coverage on shares of Newell Brands in a research report on Thursday, February 16th. They issued a “neutral” rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Newell Brands presently has an average rating of “Hold” and an average target price of $17.18.

Newell Brands Price Performance

Newell Brands stock opened at $8.69 on Friday. Newell Brands Inc. has a 52 week low of $8.65 and a 52 week high of $21.88. The company’s 50 day moving average price is $11.46 and its two-hundred day moving average price is $13.12. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $3.60 billion, a P/E ratio of -29.97 and a beta of 0.92.

Newell Brands (NASDAQ:NWL – Get Rating) last posted its earnings results on Friday, April 28th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Newell Brands had a positive return on equity of 13.59% and a negative net margin of 1.31%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $0.36 EPS. Newell Brands’s quarterly revenue was down 24.4% compared to the same quarter last year. On average, equities analysts predict that Newell Brands Inc. will post 0.97 earnings per share for the current year.

Newell Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.07 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.22%. Newell Brands’s payout ratio is currently -96.55%.

Newell Brands Company Profile

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Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.